Vanderbilt Mortgage

• Manufactured & Mobile Home Financing
• Specialty Upgrade Loan
• Manufactured & Mobile Home Tools
• Homebuying Resources and Education

Manufactured & Mobile Home Loan Financing

Vanderbilt Mortgage is unique because it specializes in a variety of financing options for manufactured and mobile homes. Some of its financing options include new and used manufactured and modular home financing and land financing as well. Below are two specific loan options that are incredibly unique to Vanderbilt:

Biweekly advantage mortgage: This unique loan is structured so that your normal monthly mortgage payment is broken up into two, lesser monthly payments, one every two weeks. The reward of doing this is that you pay more of the principle up front first and increase your odds of paying off the loan.

Land home mortgage: If you are looking to buy a mobile home and the land to put it on then this loan wraps up all the costs for your new home, land, land improvements and fees all in one loan with one payment.

If you are in the market for a mobile home or manufactured housing then Vanderbilt Mortgage is one of the best options to secure this type of loan.

Specialty Upgrade Loan

Vanderbilt Mortgage has a specialty loan option called a Home UpGrade loan (HUG). The HUG loan makes it easy to finance energy efficient upgrades or emergency repairs on your manufactured home. With this mortgage loan, Vanderbilt Mortgage aims to make the loan easy to access, hoping to encourage borrowers to make their homes more green and energy efficient for the environment. Here are the loan guidelines:

• Loan amounts from $2,500 to $25,00 (varies by credit score)
• Long term financing (5–10 years)
• Affordable monthly payment
• Zero prepayment penalty
• Transparent loan application

If you already have a home loan for your mobile home, then this specialty HUG loan is a great options if all your needing is a few upgrades.

Manufactured & Mobile Home Tools

In addition to the financing options, Vanderbilt also offers several resources to help you in the home buying process. One feature includes a mobile home finder. You can easily browse mobile homes in your budget to find the most affordable housing possible.

Not all lenders offer these speciality tool and expertise, making Vanderbilt a great option if you are hoping to purchase this kind of home.

Homebuying Resources and Education

Vanderbilt Mortgage provides several educational tools and resources for homebuyers on its website. For example, it has a mortgage calculator and informational guides to help borrowers learn about and prepare for the mortgage process.

If you are a first-time homebuyer, there are many tools and resources that will be especially beneficial to you.

• Undisclosed Details

Undisclosed Details

Vanderbilt Mortgage has not disclosed details about the type of loan options for traditional mortgages. Those that are looking to by a traditional home will need to contact one of its representatives to have more information about the options.

In addition, Vanderbilt has not disclosed information about its lender fees, closing costs, or credit score requirements. This may be frustrating for borrowers who would like to have more information, but it is not very common for mortgage lenders to divulge these factors without getting further along in the application process.